How Much Does College Graduation Cost?

After completing high school one can pursue college graduation in their respective field of interest. Graduation from a good and reputed college can get one to places, that’s why parents save for their children’s college fund. In choosing a college and the subject of interest the main factor that comes into play is the cost. It can turn the tide for a student, so it’s important for a student to research about the cost of graduating college and other expenses that are involved in it. Let’s learn about ‘How Much Does College Graduation Cost?’.

How Much Does College Graduation Cost?

How Much Does College Graduation Cost?

The total cost of graduation depends upon several factors ranging from the University enrolled in, the field of study, the time taken to complete graduation, etc. Normally, private universities charge higher tuition fees. The total cost of graduation (TCOG) also involves your living and food expenses apart from tuition fees. Roughly the total expense stands around $35,000 – 40,000 for every student annually; this includes book supplies and living expenses.

Now let us break down and understand the How Much Does College Graduation Cost in detail.

The different types of US universities

The USA consists of a variety of different types of universities and the average costs of these universities vary greatly. The universities include public-state universities, private universities, and community or technical colleges. Even if you cannot graduate with a full degree from a 2-year technical college, you get an associate degree which can later be transferred. Associate degrees are treated as the first half of a bachelor’s degree. 

A very affordable option to reduce tuition costs could be found in the public US. Universities. Normally they are treated as state university systems, i.e., The Bunch of colleges that lie in a state, operating as different independent institutes while also sharing some common administrative areas. 

The cost of graduating from these universities 

On top of the expense, scale lies top-tier US Universities (most of which are private, and non-profit), where adding the cost of living and tuition fees sums up to around US $60,000.

The comparatively cheaper public universities in America charge their students at two different rates – One for the native state residents and a different rate for other state students. The latter and the more expensive category are usually applicable to applicants from the other US States and international students. In terms of size, private universities are comparatively smaller than public and also offer a more varied student background. 

As per published data, the cost of public universities for state residents is around $10,300 and $27,000 for everybody else. Comparatively private nonprofit colleges charge around $36,000 for the degree.

Average fees at US universities, 2018-19
 Public two-year collegesPublic four-year colleges (in-state fees)Public four-year colleges (out-of-state fees)Private non-profit four-year colleges
Tuition and other fees$3,660$10,230 $26,290 $35,830 
Room and board$8,660 $11,140 $11,140 $12,680 
Total (per year)$12,320 $21,370 $37,430 $48,510

What other expenses are to be incurred?

The total cost of graduation involves various parts, the most prominent of them are tuition fees and personal expenses. Since we have covered tuition fees for universities we now have to take a glimpse at personal expenses, which contain your expenses like cell phone bills, movies, eating out, expenses, parties and clothing. These expenses add a huge chunk to your college budget and can be thousands of dollars annually. Another important factor is transport. Whether you commute to college by public transport or your car, or visit your home once in a while, transportation costs will incur. And of course it will vary according to how frequently you travel, how much you travel and how often you travel.

When additional expenses such as transportation and living are taken up, the cost estimate rises to the following:

  • $17,930 (community college)
  • $25,890 (in-state students at a four-year public college)
  • $41,950 (out-of-state students at a four-year public college)
  • $52,500 (private non-profit four-year college)

Types of Scholarship in US universities

There are many types of scholarships for students of them the most common are these six types,

1. Academic Scholarship

As the name suggests these are granted to students who are very good at studies and have achieved good test scores.

2. Community Service Scholarship

These scholarships are awarded to those students who are actively involved in making a positive impact on communities through volunteer services.

3. Athletic Scholarship

Students who are talented in sports are granted these scholarships, but they usually don’t get a full ride and do as they are told at the time of agreement.

4. Scholarship For Hobbies and Extracurricular

Universities also offer scholarships to students who have an interest and have some experience in extracurriculars and want to pursue them further.

5. Need-Based Scholarship

As the name suggests, need-based scholarships are only offered to those students who need financial aid. Organizations like the Davis-Putter-Scholarship Fund help students by providing $15000 annually to successful applicants.

6. Employer and Military scholarship

Some Employers provide scholarship programs to provide to college-age students of their employees. Military scholarships are awarded to children of active/reserved or retired National Guard and Us Military personnel and the organization is called Military Commanders’ Scholarship Fund.

Conclusion: –

Now we’ve learnt about ‘How Much Does College Graduation Cost?’, Finally, you would have gotten a pretty good idea about the cost of graduation from the US. Depending upon your education budget and goals you may decide and choose your type of university be it public, private, or community college, or even if the US is the right country for you to study in in case you are an International Student. You also have the information about various types of scholarships offered if you’re hoping for some financial assistance.

Frequently Asked Questions:

  1. How to Differentiate between ‘Graduate’ and ‘Undergraduate’ degrees?

Ans- Undergrad courses are usually done after high school and can be either an associate (2-year) degree or a Bachelor’s (4-years) degree.

  1. Is it possible to study and work together in the US? 

Ans- Depends individually on the student. In case you’re an international student, you might need to take permission from the International Student Office. International students are allowed to work a max of 20 hours/week in their first year and that too on campus. In the subsequent years, you may go for off-campus opportunities.